Improved BEAD prospects fuels Northland Capital to upgrade Clearfield to 'outperform'

Northland Capital upgrades fiber management specialist Clearfield CLFD.O to "outperform" from "market perform"; reiterates PT at $45

Shares of CLFD rise about 7.3% to $30.07 in morning trading

Brokerage upgraded CLFD because BEAD funding progress and approvals significantly improve long-term growth visibility, outweighing short-term softness

Northland Capital sees opportunity of $250 million annually where it expects CLFD to capture a majority share, or roughly the same as the $150 million that CLFD reported in FY25

"We believe BEAD and its associated positive
impacts on private funding can help drive consistent 20%+ growth," Northland Capital says

3 of 4 brokerages rate stock "buy" or higher, 1 "hold"; their median PT is $44 - data compiled by LSEG

Including session's moves, CLFD stock down ~3% YTD